Hello friends,
As you see, these patterns are Expanding Triangles.
In an expanding triangle, each individual leg is larger than the previous one.
As a result; an expanding triangle sends out contradictory signals for traders, which leads traders to make faulty decisions!
A Possible scenario is shown in the chart.
BTC (4h)-Technical
RSI *** Sell
DMI is Bearish
Oscillators:
Moving Average Convergence / Divergence *** Sell
Momentum Indicator*** BUY
Bull Bear Power is neutral
Moving Averages:
Ichimoku Cloud is neutral
Exponential Moving Average *** Sell
Simple Moving Average *** Sell
Volume Weighted Moving Average *** Sell
Hull Moving Average *** BUY
For more details, See attached Idea.
Follow updates.
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You can set a Buy order (20%) at $ 41k
You can set a Buy order (10%) at $ 40k
You can set a Buy order (10%) at $ 38k